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									FE822 AM IO:IO 9I   57462
149O8 1482
                  DECLARATION OF COVENANTS AND RESTRICTIONS
                                      OF
                           PRINCETONIAN BY THE PARK

This Declaration is made on the 31st day of January, 1991, by Biscayne
Village Homes, Ltd.,a Florida limited partnership, its successors and/or
assigns, hereinafter referred to as “Developer”.

                                 WITNESSETH:

WHEREAS, Developer is the owner of certain property located in Dade County,
Florida, which is more particularly described as follows:

     All of the property located within the Plat
     of Princetonian By The Park, as recorded in
     flat Book 140, Page 36 of the Public
     Records of Dade County, Florida.

WHEREAS, Developer contemplates the ultimate establishment of a residential
community to be known as Princetonian By The Park including common areas for
the collective use of all the residents of Princetonian By The Park which
will consist of the common areas of the property now submitted to this
Declaration; and

WHEREAS, Developer desires: (i) to provide for the preservation 4 of the
values and amenities in Princetonian By The Park community and for the
maintenance, repair, replacement and administration of such common areas; and
(ii) to establish the classes of persons entitled to the use of such common
areas and their respective rights, duties and obligations relative to such
use and the payment of their respective shares of the cost of maintenance,
repair, replacement and administration of the common areas; and

WHEREAS, Princetonian By The Park Homeowners‟ Association, Inc. is to be
incorporated under the laws of the State of Florida as a not-for-profit
corporation for the purpose of performing those functions hereinabove set
forth; and

WHEREAS, Developer will convey the lots, as the term is hereinafter defined,
in Princetonian By The Park community, subject to certain protective
covenants, conditions, restrictions, reservations, liens and charges as
hereinafter set forth;

NOW, THEREFORE, Developer hereby declares that all of the property
hereinabove described, shall be held, sold and conveyed subject to the
following easements, restrictions, covenants, conditions and liens, all of
which are for the purpose of enhancing and protecting the value,
desirability, and attractiveness of the real property known as Princetonian
By The Park. These easements, covenants, restrictions, conditions and liens
shall run with the property and shall be binding on all parties having or
acquiring any right, title or interest in the described property or any part
thereof, and shall inure to the benefit of each owner thereof.
This Instrument prepared by:
Juan E. Rodriquez, Esquire
Salomon, Kaner & Damian, PA,
80 S.W. 8th Street, Suite 2000
Miami, Florida 33130

                                  ARTICLE I
                                 DEFINITIONS

The following words and terms when used in this Declaration
and in its exhibits shall have the following meanings:
     A. “Articles of Incorporation” — shall mean and refer to the Articles of
Incorporation of PRINCETONIAN BY THE PARK HOMEOWNERS‟ ASSOCIATION, INC., all
exhibits which are attached thereto and made a part thereof, and shall
include such “amendments”, if any, as may be adopted from time to time
pursuant to the terms thereof.
     B. “Association” shall mean and refer to PRINCETONIAN BY THE PARK
HOMEOWNERS‟ ASSOCIATION, INC., a Florida corporation not-for-profit, which is
to be incorporated.
     C. “By-Laws” shall mean and refer to the By—Laws of PRINCETONIAN BY THE
PARK HOMEOWNERS‟ ASSOCIATION, INC., a Florida corporation not—for-profit, all
exhibits which are attached thereto and made a part thereof, and shall
include such amendments, if any, as may be adopted from time to time pursuant
to the terms thereof.
     D. “Common Areas shall mean and refer to: All of The Properties, as
defined herein below, less and except all Lots and Residential Units herein
below defined and “Common Areas” also include parks and open space and
landscaping thereon, private streets, sidewalks, walls, street lights, and
entrance features, but excluding any public utility installations thereon,
and all personal property used in connection with the above owned or leased
by the Association.
     E. “Developer” shall mean and refer to BISCAYNE VILLAGE HOMES, Ltd., its
successors and such of its assigns as to which the right of Developer
hereunder are specifically assigned.
     F. “Declaration” shall mean and refer to these covenants and
restrictions, the exhibits hereto, and such amendments, if any, as may be
duly adopted from time to time pursuant to the terms hereof.
     G. “Institutional Mortgagee” shall mean and refer to a bank, or a
savings and loan association, or an insurance company, or a pension fund, or
a real estate trust, or other private or governmental institution which is
engaged in the business of mortgage financing, which owns or holds a first
and prior mortgage encumbering a Lot and Barnett Bank of South Florida, N.A.
during the period of time that Barnett Bank of South Florida, N.A. holds a
second mortgage on a Lot owned by the Developer. The term “institutional
mortgagee” shall include the Federal National Mortgage Association, the
Federal Home Loan Mortgage Corporation, the Department of Housing and Urban
Development and the United States Veterans Administration and similar and
successor entities that own or hold a first and prior mortgage encumbering a
Lot.
     H. “Institutional Mortgage” shall mean and refer to a mortgage made by a
bank, or a savings and loan association, or an insurance company, or a
pension fund, or a real estate trust, or other private or governmental
institution which is engaged in the business of mortgage financing, which is
a first and prior mortgage encumbering a Lot or Residential Unit and any
second mortgage held by Barnett Bank of South Florida, N.A. encumbering a Lot
or Residential Unit while owned by the Developer.
     I. “Lot” shall mean and refer to any single lot as shown on the Plat of
PRINCETONIAN BY THE PARK as approved by Dade County and recorded in the
Public Records of Dade County, Florida with the exception of Common Areas.
     J. “Member” shall mean and refer to all those owners of Lots and/or
Residential Units who are members of the Association as provided in Article
IV, Section I, hereof.

     K. “Owner” shall mean and refer to the record owner, whether one or more
persons or entities, of the fee simple title to any Lot and/or Residential
Unit as defined herein, excluding a Builder, as defined herein.

     L. “The Properties” shall mean and refer to all such existing properties
and additions thereto, as are subject to this Declaration or any amendment
hereto.
     M. “Residential Unit” shall mean and refer to any residential unit
designated and intended for use by a single family, the construction of which
has been completed as evidenced by the issuance of a certificate of occupancy
or its equivalent by the appropriate governmental authority.

                                  ARTICLE II
                           PROPERTY SUBJECT TO THIS
                        DECLARATION ADDITIONS THERETO

     Section 1. Conditions. The Properties shall be held, transferred, sold,
conveyed and occupied subject to the tens and conditions of this Declaration,
and any lawful amendments hereto whether or not reference to this Declaration
is made in any such deed of conveyance or other instrument. The recording of
this Declaration in the Public Records of Dade County and the subjecting of
The Properties to the conditions and easements contained herein shall not be
construed in any way and shall never inhibit or prohibit the Developer from
conveying the Lots or improvements within The Properties to third parties
free and clear of any conditions, restrictions or easements except for those
specifically provided for herein and such other matters that may be of record
in said Public Records. Lots conveyed by the Developer to third parties shall
be held in fee simple title by said third parties in accordance with this
Declaration.

     Section 2. Supplements. Developer may from time to time bring other land
under the provisions hereof by recording supplemental declarations, which
shall not require the consent of then existing Owners or the Association, and
thereby add to The Properties. However, so long as there is a Class B
Membership, additional property may not be added to The Properties without
the prior approval of The Department of Housing and Urban Development of the
Veteran‟s Administration. Additionally, additional property may not be added
to The Properties without the prior written approval of three fourths
(3/4ths) of Institutional Mortgagees (based on one vote for each Mortgage
owned). To the extent that such additional real property shall be made a part
of The Properties as a common scheme, reference herein to The Properties
should be deemed to be reference to all of such additional property where
such reference is intended to include property other than that legally
described above.

Nothing herein, however, shall obligate the Developer to add to the initial
portion of The Properties, to develop any such future portions under such
common scheme, nor to prohibit Developer from rezoning and the development
plans with respect to such future portions and/or the Developer from adding
additional or other property to The Properties under such common scheme. All
Owners, by acceptance of a deed to their Lots, thereby automatically consent
to any such rezoning, change addition or deletion thereafter made by
Developer and shall evidence such consent in writing is requested to do so by
the Developer at any time. Any additions or exclusions shall require proper
written approval of Dade County.

                                  ARTICLE III
             PROPERTY RIGHTS IN THE COMMON AREAS; OTHER EASEMENTS

     Section 1. Ownership. The Common Areas are hereby dedicated to the joint
and several use, in common, of the Owners of all Lots that my from time to
time constitute part of The Properties. The Developer covenants for itself
and its successors and assigns that it will convey the fee simple to the
Common Areas to the Association free and clear of all encumbrances and liens,
before the Department of Housing and Urban Development or the Veteran‟s
Administration insures a mortgage on a Lot in The Properties. Such a
conveyance will occur on or before the time of the conveyance of the First
Lot to an Owner. The Association shall accept such a conveyance. The
conveyance and transfer of title to the Association shall be subject to taxes
for the year of conveyance, restrictions, limitations, conditions,
reservations and easements of record, and all matters as shown on the
recorded plat. Beginning upon the date these covenants are recorded, the
Association shall be responsible for the maintenance of the Common Areas, in
a continuous and satisfactory manner without cost to the general taxpayers of
Dade County. It is intended that all real estate taxes levied against the
Common Areas shall be proportionately assessed against and payable as part of
the taxes of the Lots within The Properties. However, in the event that any
such taxes are assessed directly against the Common Areas, the Association
shall be responsible for the payment of same, including taxes on any
improvements and any personal property thereon accruing from and after the
date these covenants are recorded, and such taxes shall be prorated between
the Developer and the Association as of the date of such recordation.
Developer shall have the right from time to time to enter upon the Common
Areas during period of construction upon adjacent properties, and for the
purpose of construction of any facilities on the Common Areas that Developer
elects to build, and Developer shall have the right to use the Common Areas
for sales, display and signs during the period of construction and sales for
any portion of The Properties. The owner of the Lot or Residential Unit shall
have no personal liability for any damages for which the Association is
legally liable or which arises out of or is connected with the existence or
use of any portion of the Common Area or any other property required to be
maintained by the Association. The Common Areas cannot be mortgaged or
conveyed without the consent of at least 2/3rds of the Lot Owners, excluding
the Developer.

     Section 2. Owners Easement. Every Owner shall have a permanent and
perpetual easement for the use of all Common Areas located thereon, in common
with all other Owners, Such rights and easements shall inure of the benefit
of the Owner, his family, guests and tenants though subject to the following:

     (a) The right and duty of the Association to levy assessments against
     each Lot for the purpose of maintaining the Common Areas in compliance
     with the provisions of this Declaration and any other existing
     restrictions or any restrictions which may from time to time be
     recorded by Developer.
     (b) The right of the Association to adopt and enforce rules and
     regulations governing the use of the Common Areas, including the right
     to fine Members as provided in Article IX hereof. If ingress or egress
     to any residence is through any common areas, any conveyance or
     encumbrance of such area is subject to the Lot Owner‟s easement.
     Section 3. Easement Appurtenant. All easements provided for in this
Section shall be appurtenant to and shall pass with the title to each Lot or
Residential Unit.


                                   ARTICLE V
                     COVENANT FOR MAINTENANCE ASSESSMENTS

     Section 1. Creation of the Lien and Personal Obligation for Assessments
to be Paid to The Association. The Developer for each Lot owned by it within
the Properties and each other Owner of a Lot by acceptance of a deed
therefore, whether or not it shall be so expressed in any such deed or other
conveyance, is deemed to covenant, (which covenant shall run with the land
and be binding on every Owner) and agrees to pay to the Association certain
assessments which shall include but not be limited to the following:
annual assessments or charges to fund regular operating expenses of the
Association and such reserves as may be established from time to time;
special assessments for capital improvements or repairs, to defray shortfalls
in the annual budget or for such other purposes as the Association may deem
necessary or prudent; annual assessments or charges to effect payment of the
real property taxes assessed against the Common Areas and the improvements
thereon, if any, and the personal property taxes assessed against the
personal property located on or contained in the Common Areas or otherwise
owned by the Association, or any other tax to which the Association or the
Common Areas or the improvements thereon or the personal property used in
connection therewith becomes subject. Such assessments shall be fixed,
established and collected from time to time as hereinafter provided. All such
assessments (together with interest thereon and costs of collection thereof
including attorneys fees as hereinafter provided), shall be a charge on the
land and shall be a continuing lien upon the property upon which each such
assessment is made, and said lien may be enforced and foreclosed in the same
manner in which mortgages are enforced and foreclosed. Each such assessment,
together with interest, costs, and attorney‟s fees, shall also be the
personal obligation of the person who was the Owner of the Lot subject to the
assessment at the time when the assessment fell due.

     Section 2. Annual Assessment. The annual assessments shall be based upon
the budget adopted by the Board of Directors of the Association from time to
time for the operation and maintenance of the Common Areas, the operation of
the business of the Association and for other purposes and Association
expenses as provided in the Declaration.

     Section 3. Maximum Annual Assessment. Until January 1 of the year
immediately following the conveyance of the first Lot to an Owner, the
maximum annual assessment shall be One Hundred Thirty Two ($132.00) Dollars
assessed monthly at Eleven ($11.00) Dollars per month.

     (a) From and after January 1 of the year immediately following the
     conveyance of the first Lot to an Owner, the maximum annual assessment
     may be increased each year not more than 5% above the maximum
     assessment for the previous year without the vote of the membership.
     (b) From and after January 1 of the year immediately following the
     conveyance of the first Lot to an Owner, the maximum annual •assessment
     may be increased above 5% by a vote of two—thirds (2/3rds) of each
     class of members who are voting in person or by proxy, at a meeting
     duly called for that purpose.
      Section 4. Special Assessments. In addition to the annual assessments
authorized above, the Association may levy, in any assessment year, a special
assessment applicable to that year only, for the purpose of defraying, in
whole or in part, the costs of any construction, reconstruction, repair or
replacement of a capital improvement upon the Common Areas, including
fixtures and personal property related thereto, and for the purpose of
defraying budgetary shortfalls and to pay expenses of the Association
incurred in connection with its operation, maintenance and repair of the
Common Areas and enforcing the Covenants herein contained which expenses were
not included in the annual budget upon which the annual assessments were
based on, provided that such assessment shall have the assent of at least
two-thirds (2/3rds) of each class of membership who are voting in person or
by proxy at a meeting duly called for that purpose.

     Section 5. Notice and Quorum for any Action Authorized Under Section 3
and 4. Written notice of any meeting called for the purpose of taking any
action authorized under Sections 3 and 4 shall be sent to all Members not
less than thirty (30) days nor more than sixty (60) days in advance of the
meeting. At the first such meeting called, the presence of Members or of
proxies entitled to cast sixty (60%) percent of all the votes shall
constitute a quorum. If the required quorum is not present, another meeting
may be called subject to the same notice requirement, and the required quorum
at the subsequent meeting shall be one—half (1/2) of the required quorum at
the preceding meeting. No such subsequent meeting shall be held more than
sixty (60) days following the preceding meeting.

     Section 6. Rate of Assessment. All annual assessments and any special
assessments described in Sections 3 and 4 above shall be fixed at a uniform
rate for each Lot. Assessments may be collected on a monthly basis or on such
other basis as the Association by majority vote of its Board of Directors
determines. Notwithstanding anything in this Declaration or this Section 6 to
the contrary, however, the assessments due for unsold Lots within The
Properties owned by Developer on which Lots a Residential Unit has not yet
been constructed or on which Lots construction of the Residential Unit has
not yet been completed, shall be 50% of the assessments charged against each
Lot Owner other than Developer. Developer shall begin paying one hundred
(100%) percent of the amount of the annual assessment (for the months
remaining in that fiscal year) for each Lot owned by Developer with a
completed Residential Unit constructed thereon on the first day of the month
following the month in which construction of the Residential Unit is deemed
completed. Instead of paying its prorata share of the annual assessments
based on the number of Lots it owns in The Properties in accordance with the
preceding formula, Developer may guarantee to advance to the Association in
accordance with the terms hereinafter set forth, the difference if any,
between the aggregate amount of annual assessments assessed all Lot Owners
other than Developer and the amount of Association expenses necessary to
operate and maintain the Common Areas and the business of the Association in
accordance with this Declaration. This guaranty shall continue until 75
percent of the Lots are sold. Thereafter Developer shall pay assessments in
the manner set forth in this section 6. During the period that Developer
guarantees the budget as described herein, Developer shall be excused from
the payment of any assessments on the Lots owned by Developer within The
Properties and Developer shall pay any amount of the common expenses of the
Association incurred during such guaranty period that exceeds the amount of
the assessments levied by the Association on Owners other than Developer in
accordance with the guaranty set forth above. This guaranty by Developer
shall not include any obligation by Developer to make up any shortfall in
funds needed to pay Association common expenses that results from the non-
payment of delinquent payment of their Lots pursuant to this Declaration, or
other costs incurred assessments in the collection of assessments or
foreclosure of liens for assessments.

     Section 7. Date of Commencement of Annual Assessments; Due Dates.
The assessments provided for herein shall commence on the first day of the
month immediately following the recording of this Declaration in the Public
Records of Dade County, Florida, or at such later date as Developer shall
determine, provided Developer gives the Owners written notice of such date.
The Board of Directors of the Association shall fix the amount of the annual
assessment against each Lot at least thirty (30) days in advance of each
annual assessment period. Written notice of the annual assessment shall be
sent to every Owner subject thereto. The due dates shall be established by
the Board of Directors. In the event the Board of Directors has failed to set
the new annual assessment rate or has failed to notify Owners of the new rate
for any assessment year, the Owners shall continue to pay their annual
assessments at the rate and on the due dates set the previous assessment
year. The Owners shall have no right to withhold any annual assessment
payment as a result of the Board of Directors‟ failure to set a rate or due
dates for the annual assessment for any assessment year or as a result of the
Board of Directors‟ failure to notify Owners of such rate, and all Owners
shall continue to make annual assessment payments as herein provided.

     Section 8. Effect of Nonpayment of Assessments; Remedies of the
Association; the Personal Obligation of the Owner; the Lien. The Association
shall be responsible and shall be obligated to enforce the payment of the
assessments due hereunder and to take such actions as may be necessary to
collect delinquent assessments levied pursuant to the terms of this
Declaration. Any assessments which are not paid when due shall be delinquent.
If the assessment is not paid within five (5) days after the due date, the
assessment shall bear interest from the date of delinquency at six (6%)
percent per annum and the Association, acting through its Board of Directors,
may bring an action at law against the Owner personally obligated to pay the
same, or his heirs, devises, personal representatives, successors or assigns
and/or foreclose the lien against the delinquent property, and interest,
costs, and reasonable attorney‟s fees of any such action or actions shall be
added to the amount of such assessment. If the assessment is not paid within
thirty (30) days after the due date, the Board of Directors may impose a late
charge on such delinquent payment. No Owner may waive or otherwise escape
liability for the assessments provided for herein by nonuse of the Common
Areas or abandonment of his Lot or any other action. Notwithstanding any
other provisions of this Declaration to the contrary, the Board of Directors
shall have the right to suspend any Owner‟s voting rights in the Association
for any period during which any assessment due pursuant to this Declaration
has remained unpaid for more than thirty (30) days after the due date for
such assessment. Any individual or entity that acquires title to a Lot upon
the death of an Owner or by operation of law shall b personally liable for
unpaid assessments with respect to such Lot. In any voluntary conveyance, the
grantee shall be jointly and severally liable with the grantor for all unpaid
assessments due or accruing prior to the time of such voluntary conveyance,
without prejudice to the rights of the grantee to recover from the grantor
the amounts paid by the grantee therefore. If any assessment is not paid
within five (5) days after it becomes due, then the Association shall also
have a continuing lien on the delinquent Lot which lien shall continue until
the delinquent assessment is paid. Each Owner of any Lot by acceptance of a
deed therefore, whether or not it shall be so expressed in any such deed or
other conveyance is deemed to covenant, which covenant shall run with the
land, that such lien does exist and is, and shall be superior to all other
charges or liens against the property except the lien of an institutional
first mortgagee. Such assessment lien may be perfected by the filing of an
instrument among the Public Records of Dade County, Florida indicating the
amount of such lien and the obligation for interest and attorney‟s fees and
costs of collection. The lien shall be enforced and foreclosed in the same
manner in which mortgages are enforced and foreclosed. The Association may
pursue any one or more of the remedies described herein or provided by law or
equity at the same time or successively and the Association‟s choice of one
remedy shall not be a bar or prohibit the Association from thereafter
pursuing any other remedy. The Association, by and through its authorized
officers shall, from time to time, upon the request of an Owner or mortgagee,
issue a certificate in recordable form stating the amount of any assessments
due with respect to a Lot or stating that all assessments due to the
Association are current with respect to a Lot. Any third party may rely on
such certificate, and the Association shall be bound thereby.

     Section 9. Failure to Pay Assessments. Failure to pay assessments will
not constitute an Event of Default of a Department of Housing and Urban
Development or Veterans Administration insured mortgage.

     Section 10. Subordination of the Lien to Mortgages. The lien of the
assessments provided for herein shall be superior to all other liens save and
except institutional mortgage liens and real estate property tax liens. Sale
or transfer of any Lot which is subject to a mortgage as herein described
pursuant to a decree of foreclosure under such mortgage or any proceeding in
lieu of foreclosure thereof shall extinguish the lien of such assessments as
to payments thereof which became due prior to such sale or transfer. However,
no sale or transfer shall relieve such Lot from liability for any assessments
thereafter becoming due or from the lien thereof. Any unpaid assessments
which cannot be collected as a lien against any Lot as a result of a
foreclosure or the granting of a deed in lieu of foreclosure and which are
otherwise uncollectible from the Owner personally responsible for the same
shall be a common expense of the Association payable by and assessed against
all Lots including the Lot as to which the foreclosure or deed in lieu of
foreclosure took place.

     Section 11. Exempt Property. The following property subject to this
Declaration shall be exempt from the assessments created herein: (a) all
properties dedicated to and accepted by a local public authority; (b) the
Common Areas; and (c) any portion of The Properties which is designated
and/or reserved exclusively for easements (excluding Lots on which easements
may be granted except if the easement granted prohibits the construction of a
Residential Unit on the Lot). However, no land or improvements devoted to
dwelling use shall be exempt from said assessments and the existence of an
easement on any Lot shall not affect the obligation of the Owner to pay his
full assessments with respect to the Lot.

     Section 12. Capital Contribution. Each Owner at the time of purchase of
a Lot from the Developer shall, in addition to paying his prorata share of
the monthly assessment due for the month of closing, pay as a non-refundable
capital contribution to the Association an amount equal to two month‟s
assessments due the Association hereunder. Such amount shall not be credited
against future monthly assessment payments due hereunder but shall constitute
a separate capital contribution which shall be received and applied for
regular Association expenses.
                                  ARTICLE VI
                        MAINTENANCE OF UNITS AND LOTS

     Section 1. Exteriors of Units. Each Owner shall maintain all structures
(including the Residential Unit) located on his Lots in a neat, orderly and
attractive manner and consistent with the general appearance of The
Properties as a whole. The minimum (though not sole) standard for the
foregoing shall be consistent with the general appearance of The Properties
as initially constructed and otherwise improved by Developer. Each Owner
shall repaint or re-stain, as appropriate, the exterior portions of his
Residential Unit (with the same colors as initially used by Developer) as
often as is necessary to comply with the foregoing standards.

     Section 2. Lots. Each Owner shall maintain the trees, shrubbery, grass
and other landscaping on his Lot in a neat, orderly and attractive manner and
consistent with the general appearance (of The Properties as a whole. The
minimum (though not sole) standard for the foregoing shall be the general
appearance of The Properties as initially landscaped by Developer (such
standard being subject to being raised by virtue of the natural and orderly
growth and maturation of applicable landscaping as properly trimmed and
maintained).

     Section 3. Remedies for Noncompliance. In the event of the failure of an
owner to maintain his Residential Unit or Lot in accordance with this
Article, the Association shall have the right, upon five (5) days prior
written notice to the Owner at the address last appearing in the records of
the Association, to enter upon the Owner‟s Lot and perform such work as is
necessary to bring the Lot or Residential Unit, as applicable, into
compliance with the standards set forth in this Article. Such work may
include, but shall not necessarily be limited to, the cutting/trimming of
grass, trees and shrubs; the removal (by spraying or otherwise) of weeds and
other vegetation; the re-soiling or replanting of grass, trees or shrubs; the
repainting or re-staining of exterior surfaces of a Residential Unit; the
repair of walls, fences, roofs, doors, windows and other portions of a
Residential Unit or other structures on a Lot; and such other remedial work
as is judged necessary by the Association or the Architectural Control Board
hereinafter defined. The remedies provided for herein shall be cumulative
with all other remedies available to the Association under this Declaration
(including, without limitation, the imposition of times or the filing of
legal or equitable actions).

     Section 4. Costs of Remedial Work; Surcharges. In the event that the
Association performs any remedial work on a Residential Unit or Lot pursuant
to this Article, the costs and expenses thereof shall be deemed a special
assessment under of this Declaration and may be immediately imposed by the
Board of Directors. In order to discourage Owners from abandoning certain
duties hereunder for the purpose of forcing the Association to assume same,
and, additionally, to reimburse the Association for administrative expenses
incurred, the Board of Directors may impose a surcharge of not more than
thirty-five (35%) percent of the cost of the applicable remedial work, such
surcharge to be a part of the aforesaid special assessment. No bids need be
obtained by the Association for any of the work performed pursuant to this
Article and the person(s) or company performing such work may be selected by
the Association in its sole discretion.

     Section 5. Right of Entry. There is hereby created an easement in favor
of the Association and its applicable designees over each Lot for the purpose
of entering onto the Lot in the performance of the work herein described,
provided that the notice requirements of this Article are complied with and
any such entry is during reasonable hours.


                                 ARTICLE VII
                        CERTAIN RULES AND REGULATIONS

     Section 1. Applicability. The provisions of this Article VII shall be
applicable to all of The Properties but shall not be applicable to the
Developer or Lots or other property owned by the Developer.

     Section 2. Land Use and Building Type. No Lot shall be used except for
residential purposes. No building constructed on a Lot shall be used except
or residential purposes. No building shall be erected, altered, placed or
permitted to remain on any Lot other than one Residential Unit. Temporary
uses by Developer and its affiliates for model homes, sales displays, parking
lots, sales offices, and other offices, or any combination of such uses,
shall be permitted until permanent cessation of such uses takes place. No
changes may be made in buildings erected by the Developer or its affiliates
(except if such changes are made by the Developer) without the consent of the
Architectural Control Board as provided herein.

     Section 3. Easements. Easements for installation and maintenance of
utilities are reserved as shown on the recorded plat covering The Properties
and as provided herein. Within these easements, no structure, planting or
other material may be placed or permitted to remain that will interfere with
or prevent the maintenance of utilities. The area of each Lot covered by an
easement and all improvements in the area shall be maintained continuously by
the Owner of the Lot, except as provided herein to the contrary and except f
or installations for which a public authority or utility company is
responsible. The appropriate water and sewer authority, electrical utility
company, telephone company, the Association, Developer and its affiliates,
and their respective successors and assigns, shall have a perpetual easement
for the installation and maintenance, all underground1 of water lines,
sanitary sewers, storm drains, and electric, telephone and security lines,
cables and conduits, under and through the utility easements as shown on the
Plat. The Developer and its affiliates, and their designees, successors and
assigns, shall have a perpetual easement for the installation and maintenance
of cable and community antennae, radio, television and security lines (and
for all future technological advances not now known) within platted utility
easement areas. All utilities and lines within the subdivision, whether in
street rights—of-way or utility easements, shall be installed and maintained
underground.

     Section 4. Nuisances. No noxious, offensive or unlawful activity shall
be carried on upon The Properties, not shall anything be done thereon which
may be or may become an annoyance or nuisance to other Owners.

**Revised/Additional Information as of June 2006 –
1.   No owner shall make or permit any disturbing noises by himself, his
family, employees, tenants, guests, nor permit any conduct by such persons or
noxious odors as to disturb or annoy other residents and interfere with the
quiet enjoyment and peaceful possession of the properties. No owner shall
play or permit to be operated a phonograph, television, radio, sound
amplifier or electronic equipment in such a manner as to disturb or annoy any
other resident. Nuisance Law – No music which is audible from the exterior
of the homes is permitted from 11pm to 7am Monday through Saturday and 10pm
to 7am on Sunday.
2.  Pets:
A)  Pet owners are financially responsible for any damage their pet creates.
B)  No pets shall be kept, bred or maintained for any commercial purposes.
   No livestock or poultry of any kind may be raised, bred or permitted on
   any lot or in any home.
C) No pets shall be left unattended so as to cause disturbances. No pets
   shall be allowed to become a nuisance or unreasonably annoy or disturb
   other residents.
D) Pets shall be accompanied by their owners at all times. Dogs shall be on
a leash.
E) Owners must not allow their pets on any other homeowner’s property.     Pet
   owners must promptly pick up their pet’s solid excretions and dispose of
   it safely.

     Section 5.Signs. No sign of any kind shall be displayed to the public
view on The Properties, except only one sign of not more than one (1) square
foot used to indicate the name of the resident or one sign or not more than
five (5) square feet advertising the Lot for sale or for rent (in locations
and in accordance with design standards approved by the Architectural Control
Board). No sign of any kind shall be permitted to be placed inside a home or
on the outside walls of the home or on any fences on The Properties, nor on
Common Areas, nor on dedicated areas, nor on entryways or on any vehicles
within The Properties, except such as are placed by the Developer of its
affiliates.

     Section 6. Visibility at Intersections. No obstruction to visibility at
street intersections or Common Area intersections shall be permitted.

     Section 7. Architectural Control. No building, wall, fence or other
structure or improvement of any nature (including, but not limited to,
landscaping, exterior paint or finish, hurricane protection, basketball
hoops, birdhouses, other pet houses, sales, asphalting or other improvements
or changes of any kind) shall be erected, placed or altered on any Lot until
the construction plans and specifications and a plan showing the location of
the structure and landscaping or of the materials as may be required by the
Architectural Control Board (the “Board”) have been approved in writing by
the Board and all necessary governmental permits are obtained. Each building,
wall, fence or other structure or improvement of any nature, together with
the landscaping, shall be erected, placed or altered upon the premises only
in accordance with the plans and specifications and plot plans, or any of
them, may be based on any ground, including purely aesthetic grounds, which
in the sole discretion of said Board seem sufficient. Any change in the
exterior appearance of any building, wall, fence or other structure or
improvements, and any change in the appearance of the landscaping shall be
deemed an alteration requiring approval. The Board shall have the power to
promulgate such rules and regulations as it deems necessary to carry out the
provisions and intent of this paragraph. A majority of the Board may take any
action the Board is empowered to take, may designate a representative to act
for the Board and may employ personnel and consultants to act for it. In the
event of death, disability or resignation of any member of the Board, the
remaining members shall have full authority to designate a successor. The
members of the Board shall not be entitled to any compensation for service
performed pursuant to this covenant. The Board shall act on submission to it
within thirty (30) days after receipt of the same (and all further
documentation required) or else the request shall de deemed approved. Members
of the Board shall be appointed by the Board of Directors of the Association
as a committee thereof.
     The approval of any proposed improvements or alterations by the Board
shall not constitute a warranty or approval as to, and no member or
representative of the Board or the Board of Directors shall be liable for,
the safety, soundness, workmanship, materials or usefulness for any purpose
of any such improvement or alteration nor as to its compliance with
governmental or industry codes or standards. By submitting a request for the
approval of any improvement of alteration, the requesting Owner shall be
deemed to have automatically agreed to hold harmless and indemnify the
aforesaid members and representatives, and the Association generally, from
and for any loss, claim or damage connected with the aforesaid aspect of the
improvements or alterations. Without limiting the generality of section 1 of
this Article VII, the foregoing provisions shall not be applicable to the
Developer or to construction activities conducted by the Developer or its
affiliates.

**Revised/Additional Information as of June 2006 –

1. Portable basketball structures (hoops) are permitted on driveways
conditioned as follows: Basketball hoops must be in very good condition
meaning: no rust, not broken, not laying flat or leaning on house or
landscape, etc. Basketball hoops must be on driveway only (near house and
not roadside). Homeowner’s are responsible for all damages caused by the use
of basketball hoops.

2.    All water softeners placed in front yard must be hidden by shrubs.

3.    Storm shutters/panels, as well as any wood used to protect a home, must
     be removed from all windows and doors within 10 days after a storm has
     passed.

4.    All decorations and lighting must be removed within five (5) days after
     said holiday. Christmas decorations and lighting must be removed by
     January 16.

5.    Glass blocks in the little window on the front of homes have been
     grandfathered in by the developer.

6.    Plants are not to be planted so as to encroach upon the neighbor’s
     property or walls. No fichus trees allowed.

7. Security bars may be white or black in color.     Gutters must be white in
color.

     Section 8. Commercial Trucks. Trailers Campers and Boats. No trucks or
commercial vehicles, or campers, mobile homes, motor homes, house trailers or
trailers of every other description, recreational vehicles, boats or boat
trailers, horse trailers or vans, shall be permitted to be parked or to be
stored at any place on The Properties, unless the Developer or the
Association designates specifically certain spaces for some or all of the
above. This prohibition on parking shall not apply to temporary parking or
trucks and commercial vehicles, such as pick—up and delivery and other
commercial services. This prohibition does not apply to passenger type vans
used for personal use which are in acceptable condition in the sole opinion
of the Board (which favorable opinion nay be changed at any time), nor to any
vehicles of the Developer or its affiliates. No on-street parking shall be
permitted.
     Subject to applicable laws and ordinances, any vehicle parked in
violation of these or other restrictions contained herein or in the rules and
regulations now or hereafter adopted may be towed by the Association at the
sole expense of the Owner of such vehicle if such vehicle remained in
violation for a period of 24 hours from the time a notice of violation is
placed on the vehicle. The Association shall not be liable to the owner of
such vehicle for trespass, conversion or otherwise, nor guilty of any
criminal act, by reason of such towing and once the notice is posted, neither
its removal, nor failure of the owner to receive it for any reason, shall be
grounds for relief of any kind. For the purpose of this paragraph, “vehicle”
shall also mean campers, mobile homes and trailers. An affidavit of the
person posting the aforesaid notice stating that it was properly posted shall
be conclusive evidence of proper posting.

**Revised/Additional Information as of June 2006 –

1. Vehicles shall be parked only in the garages or in the driveways serving
each home. Vehicles are not allowed to park on the median, grassy area,
greenbelt, common areas, the front and side yards of homes, walkways and
sidewalks. Exception: Campers, boats, recreational vehicles, and motor homes
may be placed behind the fence not visible from the street and must maintain
5 feet distance from your neighbor’s wall. Driving on lawns is not allowed.
Failure to comply with this rule will result in citations and fines.
Homeowner will be responsible for all expenses to fix damages.

2. A commercial vehicle, such as a van or work truck not exceeding 3
quarters of a ton in capacity, shall be permitted on driveways as long as
lettering or graphics are not visible.

3. No mechanical or other work, body work, painting, assembling or
disassembling of any vehicle or auto shall be permitted on the lot or common
area.

4. No inoperative automobiles, automobiles without license plates or with
expired plates shall be parked, stored, or remain on the lots or common area.
Vehicles without license plates or inoperative vehicles are subject to
removal and/or fines.

5. All vehicles not conforming to these rules and regulations will be towed
away at the expense of the owner and/or fined.

6. Homeowner’s are responsible for the actions of their tenants and guests
regarding these parking regulations.

7. The streets of the community are intended for motor vehicle use. They
are not designated to be used as a play area for children. Parents shall
supervise their children and shall be responsible and liable for their
children’s actions.

8.   Pyramid curbstones are not permitted, only concrete button style at
least 12 inches from the street. (This rule complies with Dade County policy
which does not permit pyramid curbstones.)

     Section 9. Garbage and Trash Disposal. No garbage, refuse, trash or
rubbish shall be deposited except as permitted by the Association. The
requirements from time to time of the applicable governmental authority for
disposal or collection of waste shall be complied with. All equipment for the
storage or disposal of such material shall be kept in a clean and sanitary
condition. Containers must be rigid plastic, no less that 20 gallons or more
than 32 gallons in capacity, and well sealed. Such containers may not be
placed out for collection sooner that 24 hour prior to scheduled collection
and must be removed within 12 hours of collection.

     Section 10. Fences. No fence, wall or other structure shall be erected
in the front yard, back yard, or side yard setback areas, except as
originally installed by Developer or its affiliates, and except any approved
by the Board as provided above.

     Section 11. Unit Air conditioners and Reflective Materials. No air
conditioning units may be mounted through windows or walls. No building shall
have any aluminum foil place in any window or glass floor or any reflective
substance or any other materials (except standard window treatments) placed
on any glass, except such as may be approved by the Board for energy
conservation purposes.

     Section 12. Drainage. No changes in elevations of any property subject
to this Declaration shall be made which will cause drainage problems for
adjoining property. In the event of a dispute with respect to any such
change, the issue shall be submitted in writing to the Board of Directors of
the Association whose decision on the same shall be final.

     Section 13. Clothes Drying. No clothes lines or similar apparatus shall
be installed on any Lot and no portion of any Lot shall be used for drying or
hanging laundry or similar items.

**Revised/Amended as of June 2006 – Clothes lines are permitted in back yards
as long as they are not visible from the street.

                                 ARTICLE VIII
                   RESALE, LEASE AND OCCUPANCY RESTRICTIONS

     Section 1. Estoppel Certificate. No owner, other than Developer, may
sell or convey his interest in a Lot unless all sums due the Association
shall be paid in full and an estoppel certificate in recordable form to such
effect shall have been received by the Owner. If all such sums shall have
been paid, the Association shall deliver such certificate within ten (10)
days of a written request therefore. The Owner requesting the certificate
shall pay to the Association a reasonable sum to cover the costs of examining
records and preparing the certificate, said sum not to exceed twenty—five
($25.00) Dollars.

     Section 2. Leases. No portion of a Lot and Residential Unit (other than
an entire Lot and Unit) may be rented. All leases shall be in writing, be
approved by the Association and shall provide that the Association shall have
the right to terminate the lease in the name of and as agent for the lessor
upon default by tenant in observing any of the provisions of the Declaration,
the Articles of Incorporation, By-Laws of the Association and applicable
rules and regulations, if any. Leasing of Lots and Residential Units shall
also be subject to the prior written approval of the Association, which
approval shall not be unreasonably withheld. No lease shall be approved for a
term of less than (1) year. The prior written approval of the Association for
a lease shall not apply to Lots and/or Residential Units acquired by an
Institutional Mortgagee who has acquired title to the Lot and/or Residential
Unit through foreclosure or deed in lieu of foreclosure. The owner will be
jointly and severally liable with the tenant to the Association for any sum
which is required by the Association to affect such repairs or to pay any
claim for injury or damage to property caused by the negligence of the
tenant. The Board of Directors may by a majority vote establish a requirement
that a sum of money not to exceed $1,000.00 be deposited in escrow with the
Association to repair any damage to the Common Areas or other portions of The
Properties resulting from acts or omissions of tenants (as determined in the
sole discretion of the Association)

                                  ARTICLE IX
                                 ENFORCEMENT

     Section 1. Compliance by Owners. Every Owner shall comply with the
restrictions and covenants set forth herein and any and all rules and
regulations which from time to time may be adopted by the Board of Directors
of the Association.

     Section 2. Enforcement. Failure of an Owner to comply with such
restrictions, covenants or rules and regulations shall be grounds for
immediate action which may include, without limitation, an action to recover
sums due for damages, injunctive relief, or any combination thereof. The
Association shall have the right to suspend voting rights and use of Common
Areas (except for legal access) of defaulting Owners. The offending Lot Owner
shall be responsible for all costs of enforcement including attorney‟s fees
actually incurred and court costs.

     Section 3. Fines. In addition to all other remedies, in the sole
discretion of the Board of Directors of the Association, a fine or fines may
be imposed upon an Owner for failure of an Owner, his family, quests,
invitees or employees, to comply with any covenant, restriction, rule or
regulation, provided the following procedures are adhere to:

          (a) Notice: The Association shall notify the Owner of the alleged
     infraction or infractions. Included in the notice shall be the date and
     time of a special meeting of the Board of Directors of the Association
     at which time the Owner shall present reasons why a fine(s) should not
     be imposed. At least seven (7) days notice of such meeting shall be
     given.
          (b) Hearing: The alleged non-compliance shall be presented to the
     Board of Directors after which the Board of Directors shall hear
     reasons why a fine(s) should not be imposed. A written decision of the
     Board of Directors shall be submitted to the Owner by not later than
     twenty—one (21) days after the Board of Directors‟ meeting. The Owner
     shall have a right to be represented by counsel and to cross examine
     witnesses.
          (c) Amounts: The Board of Directors (if its or such panel‟s
     finding are made against the Owner) may impose special assessments
     against the Lot owned by the Owner as follows:
            (1) First non—compliance or violation: a fine not in excess of
     One Hundred                                                  Dollars
     ($100.00).
            (2) Second non—compliance or violation: a fine not in excess of
     Two Hundred Fifty Dollars ($250.00).
            (3) Third and subsequent non—compliance or violation which are
     of a continuing nature: a fine not in excess of Five Hundred Dollars
     ($500.00).
          (d) Payment of Penalties. Fines shall be paid not later than five
     (5) days after notice of the imposition or assessment of the penalties.
          (e) Collection of Fines. Fines shall be treated as an assessment
     subject to the provisions for the collection of assessments as set
     forth herein.
          (f) Application of Proceeds. All monies received from fines shall
     be allocated as directed by the Board of Directors of the Association.
     (g) Non-Exclusive Remedies. These fines Shall not be construed to be
     exclusive, and shall exist in addition to all other rights and remedies
     to which the Association may be otherwise legally entitled; provided,
     however, any penalty paid by the offending Owner shall be deducted from
     or offset against any damages which the Association may otherwise be
     entitled to recover by law from such Owner.

                                     ARTICLE X

                                     EASEMENTS

     Section 1. Reservation of Easements. Easements for the installation and
maintenance of any canals, for utilities and drainage facilities, rights of
way, and for a cable television system, will be set forth and contained in
the recorded plat of the Properties and may be contained in any subsequent
plat or plats filed, from time to time, among the Public Records of Dade
County, Florida. In addition to the easements to be set forth in the recorded
plat of the Properties and any subsequent plats referred to herein, Developer
expressly reserves easements for the installation and maintenance of
additional utilities, drainage facilities, and for a cable television system
and Developer reserves the right to set forth more specifically the exact
location and placement of any such easements or to relocate any existing
easements. These easements, to the extent possible, will be located within
the Common Areas of the Properties. An easement is reserved on each Lot for
the installation and maintenance of the service connection from the
utilities, drainage systems or cable television system to any Lot or
Residential Unit within the Properties.

     Section 2. Easement Rights. Easements are expressly
provided for and reserved in favor of the Developer, its agents and
employees, and other Owners and occupants of the Properties, their guests,
invitees and tenants, for ingress and egress over and about the Common Areas
for the purpose of entering and leaving the Properties. The rights provided
under this easement shall be exercised by the foregoing parties in a manner
so as not to interfere with the use and enjoyment of any Common Areas by the
Owners of Lots, their families, guests or tenants. The use by Developer, its
agents or employees, of the easement described herein during the construction
and sales period shall not be deemed an interference of the use and enjoyment
of the Common Areas or any Lot or Residential Unit on the Properties.

     Section 3. Encroachment Easements. Notwithstanding any other provisions
contained in this Declaration, in the event that any Residential Unit, as
constructed by the Developer on a Lot, encroaches upon any portion of the
Common Areas or adjoining Lots, then a perpetual easement appurtenant to such
Lot shall exist for the continuance of any such encroachment on the Common
Areas or adjoining Lots. In the event any fence, roof, overhanging roof, or
portion of the Residential Unit as constructed upon any Lot by Developer,
encroaches or overlaps upon any other Lot or the Common Areas, then, in such
event, a perpetual easement appurtenant to the Lot upon which the fence,
roof, overhanging roof, or Residential Unit is constructed shall also exist
for the continuation of any such encroachment or overlapping upon the
adjoining Lots and Common Areas.

     Section 4. Public Easements. Fire, police, health,
sanitary and other public service personnel and vehicles shall have a
perpetual, non—exclusive easement for ingress and egress over and across all
Common Areas in the Properties and an easement on the Lots as needed.
        NOTE: THIS RECORDED DOCUMENT DOES NOT CONTAIN AN ARTICLE XI.


                                 ARTICLE XII

                                  INSURANCE

Insurance. Insurance covering portions of the Common Areas shall be governed
by the following provisions:

     Section 1. Purchase. Custody and Payment.
(a) All insurance policies described herein covering portions of the Common
Areas shall be purchased by the Association and shall be issued by an
insurance company authorized to do business in Florida.
(b) The named insured shall be the Association, individually, and as agent
for Owners of Lots covered by the policy, without naming them, and as agent
for their mortgagees, without naming them. The Owners and their mortgagees
shall be deemed additional insured.
(c) One copy of each insurance policy, or a certificate evidencing such
policy, and all endorsements thereto, shall be furnished by the Association
upon request to each Institutional Hort9agee who holds a mortgage upon a Lot
covered by the policy. Copies or certificates also shall be furnished, upon
request, not less than ten (10) days prior to the beginning of the ten of the
policy, or not less than ten (10) days prior to the expiration of each
preceding policy that is being renewed or replaced, as appropriate.

     Section 2. Coverage. The Association shall maintain
insurance covering the following:
     (a) Casualty. All improvements located on the Common Areas from time to
time, together with all service machinery contained therein (collectively,
the “Insure4 Property”), shall be insured in an amount not less than one
hundred percent (100%) of the full insurable replacement value thereof
excluding foundation and excavation costs. Such policies may contain
reasonable deductible provisions as determined by the Board of Directors of
the Association. Such coverage shall afford protection against:
          (i) Loss or Damage by Fire and Hazards - covered by a standard
extended coverage endorsement;&
          (ii) Such Other Risks - as from time to time are customarily
covered with respect to buildings and improvements similar to the Insured
Property in construction, location and use, including, but not limited to,
vandalism and malicious mischief.
     (b) Liability. Comprehensive general public liability and automobile
liability insurance covering loss or damage resulting from accidents or
occurrences on or about or in connection with the Insured Property or
adjoining driveways and walkways, or any work, matters or things related to
the Insured Property, with such coverage as shall be required by the Board of
Directors of the Association, but with combined single limit liability of not
less than $1,000,000.00 bodily injury and property damage for each accident
or occurrence, and with a cross liability endorsement to cover liabilities of
the Owners as a group to any Owner, and vice versa.
     (c) Workmen‟s Compensation and other mandatory insurance, when
applicable.
     (d) Fidelity Insurance covering all directors, officers and employees of
the Association and managing agents who handle Association funds, if any.
     (e) Such Other Insurance as the Board of Directors of the Association
shall determine from time to time to be desirable.
     When appropriate and obtainable, each of the foregoing policies shall
waive the insurer‟s right to: (i) subrogation against the Association and
against the Owners individually as a group, (ii) pay only a fraction of any
loss in the event of coinsurance or if other insurance carriers have issued
coverage upon the same risk, and (iii) avoid liability for a loss that is
caused by an act of the Board of Directors of the Association, or by a member
of the Board of Directors of the Association or by one or more Owners.

     Section 3. Premiums. Premiums for insurance policies purchased by the
Association shall be paid by the Association as a common expense, except that
the amount of increase in the premium occasioned by misuse, occupancy or
abandonment of any one (1) or more Lots or their appurtenances or of the
common property by particular Owners shall be assessed against and paid by
such Owners. Premiums shall be assessed against and paid by such Owners.
Premiums may be financed in such manner as the Board of Directors deems
appropriate.

     Section 4. Benefit of Institutional Mortgagee. Certain provisions in
this Article XIII entitled “Insurance” are for the benefit of Institutional
Mortgagees and may be enforced by such mortgagees.


                                 ARTICLE XIII
                      RIGHTS OF INSTITUTIONAL NORTGAGEES

     Section 1. Rights of Institutional Mortgagees. For so long as any
Institutional Mortgagee shall hold a mortgage upon any Lot, or shall be the
owner of any portion of Princetonian By The Park, such Institutional
Mortgagee shall have the following rights:
     (a) To be given timely notice of any condemnation loss or any casualty
loss which affects a material portion of the Common Areas or any Lot
encumbered by the Institutional Mortgagee‟s mortgage;
     (b) To be given timely notice of any default in the performance by an
Owner, whose Lot is encumbered by that Institutional Mortgagee‟s mortgage, of
any obligation under this Declaration, the Articles of Incorporation of the
Association, the By-Laws of the Association, or the rules and regulations of
the Association as well as any delinquency in the payment of assessments or
charges owed, which remain unpaid for a period of sixty (60) days;
     (c) To be given timely notice of any lapse, cancellation or material
modification of any insurance policy or fidelity bond maintained by the
Association;
     (d) To pay taxes or other charges which or in default and which may or
have become a charge against the Common Areas and may pay overdue premiums or
hazard insurance policies, or secure new hazard insurance coverage on the
lapse of a policy, for the Common Areas and the Institutional Mortgagee
making such payments shall be owed immediate reimbursement from the
Association; and
     (e) All Institutional Mortgagees holding mortgages on Lots shall have a
complete right of access to all of the Common Areas for the purposes of
ingress and egress to any and all Lots upon which they have a mortgage lien,
as may be provided in their mortgage documents.

     Section 2. Approval by Institutional Mortgagee. In addition to any
required approvals by Owners, the Department of Housing and Urban Development
and the Veteran‟s Administration called for in this Declaration, unless at
least three-fourths (3/4ths) of the Institutional Mortgagees (based upon one
vote for each mortgage owned) have given prior written, approval, the
Association shall not be entitled to:
     (a) By act or omission seek to abandon, partition, subdivide, encumber,
sell or transfer the Common Areas (the granting of easements for public
utilities or for the other public purposes consistent with the intended use
of such Common Areas shall not be deemed a transfer within the meaning of the
clause);
     (b) Change the method of determining the obligations, assessments, dues
or other charges which may be levied against an Owner;
     (c) Fail to maintain fire and extended coverage insurance on Insurable
Property in the Common Areas; on a current replacement cost basis in an
amount not less than one hundred percent (100%) of the insurable value (based
on current replacement cost);
     (d) Use hazard insurance proceeds for losses to any Common Areas or
other than the repair, replacement or reconstruction of such property; and
     (e) Amend this Declaration, the Articles or By-Laws of the Association,
if said changes would materially affect such Institutional Mortgagees.


                                  ARTICLE XIV
                              GENERAL PROVISIONS

     Section 1. Covenants Run With Land. All restrictions, reservations,
covenants, conditions and easements contained in this Declaration shall
constitute covenants running with the land, and all grantees, devisees, or
mortgagees, their heirs, personal representatives, successors and assigns,
and all parties claiming by, through or under such persons agree to be bound
by the provisions of this Declaration of Covenants and Restrictions, and the
Articles of Incorporation and By-Laws of the Association, and the rules and
regulations established by the Association.

     Section 2. Enforcement. The Developer, the Association, or any Owner,
shall have the right to enforce, by a proceeding at law or in equity, all
restrictions, conditions, covenants, reservations, liens and charges now or
hereafter imposed by the provisions of this Declaration. Failure by the
Association or by any Owner to enforce any covenant, restriction or lien
herein contained shall in no event be deemed a waiver of the right to do so
thereafter.

     Section 3. Severability. Invalidation of any one of these covenants or
restrictions by judgment or court order shall in no way affect any other
provisions, which shall remain in full force and effect.

     Section 4. Amendment. The covenants and restrictions of this Declaration
shall run with and bind the land, and shall inure to the benefit of and be
enforceable by the Association, or the Owner of any Lot subject to this
Declaration, their respective legal representatives, heirs, successors and
assigns. The Declaration may be amended by an instrument signed by not less
than 2/Jrds of the Lot Owners. Any amendment must be properly recorded.

     Section 5. Remedy for Violation. For violation or a breach of any of the
provisions herein, or the provisions of the Articles of Incorporation or By—
Laws of the Association by any person claiming by, through or under the
Developer and/or the Association, or by virtue of any judicial proceedings,
the Owner or the Association or the Developer or a first mortgagee or any of
them shall have the right to proceed at law for damages or in equity to
compel compliance with any of such provisions or for such other relief as may
be appropriate. In the event that resort to this Section 6 becomes necessary,
or it is necessary to engage the services of an attorney for enforcement of
any of the provisions of this Declaration, then the defaulting parties shall
be liable for all costs and expenses of enforcement including any attorney‟s
fees incurred, regardless of whether suit is filed. If suit is filed the
prevailing party shall be entitled to attorneys‟ fees at the trial and all
appellate levels and shall also be entitled to all expenses and court costs
incurred in connection therewith.

      Section 6. Effect of Waiver of Violation. No waiver of a breach or
violation of any of the terms, provisions and covenants in this Declaration,
or in the Articles of Incorporation or By-Laws of the Association, shall be
construed to be a waiver of any succeeding breach of the same term, provision
or covenant to this Declaration, or the Articles of Incorporation or By—Laws
of the Association.

     Section 7. HUD—VA Approval. As long as there is a Class B membership,
the following actions will require the prior approval of the Department of
Housing and Urban Development or the Veterans Administration, whichever the
case may be: annexation of additional properties: dedication of Common Areas
to the public; or an amendment of this Declaration of Covenants and
Restrictions. Otherwise, said approval will not be required.

     Section 8. Instruments Governing Common Areas and Owners of Lots. This
Declaration, the Articles of Incorporation, the By-Laws of the Association,
and any lawful amendments, from time to time to said instruments, shall
govern the Common Areas and the rights, duties and responsibilities of the
Owners of Lots. In the event of any inconsistencies between this Declaration
and the Articles of Incorporation or By-Laws of the Association, the
provisions of this Declaration shall govern and control.

     Section 9. Developer as Owner. During the sales period for the sale of
the Lots on the Properties by Developer to third parties or during such time
that Developer owns any Lots for sale to a third party in the Properties, the
Members of the Association shall not take any action that would interfere
with or undermine Developer‟s promotion or sale of said Lots to third
parties.

     Section 10. Notice to owners. Whenever notices are required to be given
hereunder, the same shall be sent to the Owners by regular mail at the
address of the Residential Unit situated upon the Lot except that any notice
of a violation of the terms of this Declaration shall be sent by both regular
mail and Certified Mail, Return Receipt requested „or such notice may be
hand-delivered to the Owner or members of his family or his agents. Such
notices shall be deemed given when deposited in the United States Mails or
hand-delivered. Any Owner may change his mailing address by written notice
addressed to the Association.

     Section 11. Owner‟s Liability and Casualty Insurance. No person other
than the Owner or his mortgagee where permitted by his mortgage, shall have
the right to place hazard or liability insurance on his Lot and Residential
Unit. There may not be any requirement imposed to insure through a particular
company or agent or to require the policies be approved by the Association or
Developer. Proceeds of insurance shall not be required to be paid to anyone
other than the Owner and/or his mortgagee.

     Section 12. Absolute Liability. Absolute liability shall not be imposed
upon Owners for damage to the Common Areas or Lots including the improvements
thereon, which is caused by said Owners, their families, guests or invitees.
Their liability shall be limited to only that for which they are legally
responsible under Florida Law.

     Section 13. Governing Documents. The Association shall make available
for inspection during normal business hours to any Owner, first mortgagee,
insurer, or guarantor of a first mortgage on a Lot in the Property requesting
the same, current copies of the Declaration, Articles of Incorporation, By—
Laws or rules and regulations governing the Property. The Association shall
be entitled to charge a reasonable fee to any such party requesting a copy of
any of the foregoing documents. The Association shall also, upon request of
any of the foregoing parties, allow such parties to review, during normal
business hours, the books, records and financial statements of the
Association.

     Section 14. Context. Whenever the context so requires, the use of any
gender shall be deemed to include all genders, and the use of the singular
shall include the plural, and the plural shall include the singular.

                                  ARTICLE XV
                        RIGHTS OF DEVELOPER ASSIGNABLE

The rights and privileges reserved in this Declaration to Developer are
freely assignable in whole or in part by Developer to any party who may be
hereafter designated by Developer to have such rights. Such rights may be
exercised both by Developer, the nominee(s), assignee(s) or designee(s) of
Developer or their respective successors or assigns.

                                  ARTICLE XVI
                    DISCLAIMER OF LIABILITY OP ASSOCIATION

NOTWITHSTANDING ANYTHING CONTAINED HEREIN OR IN THE ARTICLES OF
INCORPORATION, BY-LAWS, ANY RULES OR REGULATIONS OF THE ASSOCIATION OR ANY
OTHER DOCUMENT GOVERNING OR BINDING THE ASSOCIATION (COLLECTIVELY, THE
“ASSOCIATION DOCUMENTS”), THE ASSOCIATION SHALL NOT BE LIABLE OR RESPONSIBLE
FOR, OR IN ANY MANNER A GUARANTOR OR INSURER OF, THE HEALTH, SAFETY OR
WELFARE OF ANY OWNER, OCCUPANT OR USER OF ANY PORTION OF THE PROPERTIES
INCLUDING, WITHOUT LIMITATION, RESIDENTS AND THEIR FANILIES, GUESTS,
INVITEES, AGENTS, SERVANTS, CONTRACTORS OR SUBCONTRACTORS OR FOR ANY
PROPERTY OF ANY SUCH PERSONS WITHOUT LIMITING THE GENERALITY OF THE
FOREGOING:

(a) IT IS THE EXPRESS INTENT OF THE ASSOCIATION DOCUMENTS THAT THE VARIOUS
PROVISIONS THEREOF WHICH ARE ENFORCEABLE BY THE ASSOCIATION AND WHICH GOVERN
OR REGULATE THE USES OF The Properties HAVE BEEN WRITTEN, AND ARE TO BE
INTERPRETED AND ENFORCED, FOR THE SOLE PURPOSE OF ENHANCING AND MAINTAINING
THE ENJOYMENT OF THE PROPERTIES AND THE VALUE THEREOF;
(b) THE ASSOCIATION IS NOT EMPOWERED, AND HAS NOT BEEN CREATED, TO ACT AS AN
ENTITY WHICH ENFORCES OR ENSURES THE COMPLIANCE WITH THE LAWS OF THE UNITED
STATES, STATE OF FLORIDA, DADE COUNTY, AND/OR ANY OTHER JURISDICTION OR THE
PREVENTION OF TORTIOUS ACTIVITIES; AND

(c) THE PROVISIONS OF THE ASSOCIATION DOCUMENTS SETTING FORTH THE USES OF
ASSESSMENTS WHICH RELATED TO HEALTH, SAFETY AND/OR WELFARE SHALL BE
INTERPRETED AND APPLIED ONLY AS LIMITATIONS ON THE USES OF ASSESSMENT FUNDS
AND NOT AS CREATING A DUTY OF THE ASSOCIATION TO PROTECT OR FURTHER THE
HEALTH, SAFETY OR WELFARE OF ANY PERSON(S)EVEN IF ASSESSMENT FUNDS ARE CHOSEN
TO BE USED FOR ANY SUCH REASON.

								
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